In the past few years, Pune has been witnessing tremendous growth in the real estate sector. Builders in Pune are fast tapping newer areas in and around the city. Areas such as Pimpri-Chinchwad are the new favourites amongst builders for this purpose. Read on to know some other reasons for its popularity.
Real estate in Pimpri-Chinchwad is driven by two types of buyers. The first set consists of the job seekers hired by IT and automotive companies located nearby. The second set includes the investors, who have a keen interest in emerging areas because of lower property rates and guaranteed appreciation. Additionally, Pimpri-Chinchwad Municipal Corporation (PCMC) has taken special efforts and developed superior infrastructure in these areas because of which property appreciation has been consistent.
Coming to some prominent areas here that have gained immense popularity:
Real estate growth in Pune is highest in Wakad currently. This is because it is close to many important hubs of Pune such as Hinjewadi, the Pimpri-Chinchwad industrial area, Mumbai- Bangalore bypass, Mumbai-Pune expressway, and Balewadi sports complex. Additionally, the infrastructure including roads, drainage systems, water supply, and electricity is properly taken care of.
Location-wise, it is close to Aundh and Baner, with a distance of about 5 to 7 km. Furthermore, it is 11 km away from Pune railway station and 20 km from the airport. It is also close to Mumbai with a distance of approximately 138 km.
Hence, it is a crowd puller for:
• IT employees from Hinjewadi
• People from Mumbai looking for second homes away from the city life hustle bustle
• Employees from the Pimpri automobile area
• People from Aundh and Baner looking for a lesser crowded Area
In next 2-3 years, this area is expected to see an all-round development with more townships, apartments, and many malls coming up.
Many Builders and realtors in Pune have their eyes set on this area. Located in the heart of Pimpri-Chinchwad, this area currently has the most affordable property rates. Its closeness to Bhosari and Chakan industrial belt, and many other important industrial and automobile hubs of Pune, makes it a popular choice. Apart from this, the much-awaited Pune international exhibition and convention centre in Moshi is going to change the face of this area.
Factually, development in Moshi began only when it was taken up by PCMC in 2009. As of today, it has a high demand of 1 BHK flats.
Thus, Pimpri-Chinchwad and many more upcoming areas in Pune are having promising real estate developments. If you are looking here for buying or investing purposes don’t think twice, the time is apt!